Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Hold” from Analysts

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $167.7778.

Several brokerages have issued reports on SLAB. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Benchmark lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Citigroup increased their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th.

Silicon Laboratories Stock Down 0.3%

NASDAQ SLAB opened at $204.79 on Friday. The firm has a market cap of $6.75 billion, a P/E ratio of -102.91 and a beta of 1.56. Silicon Laboratories has a 52-week low of $82.82 and a 52-week high of $208.84. The business’s 50-day moving average price is $156.32 and its 200 day moving average price is $140.41.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The company had revenue of $208.21 million for the quarter, compared to the consensus estimate of $207.63 million. During the same period last year, the business posted ($0.11) EPS. The company’s revenue was up 25.3% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 1,954 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $141.49, for a total transaction of $276,471.46. Following the transaction, the senior vice president owned 62,381 shares of the company’s stock, valued at $8,826,287.69. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nina Richardson sold 1,355 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total value of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. The trade was a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,555 shares of company stock worth $1,073,528. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in Silicon Laboratories during the fourth quarter worth about $32,000. First Horizon Corp purchased a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of Silicon Laboratories by 45.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 86 shares during the period. UMB Bank n.a. increased its stake in Silicon Laboratories by 43.9% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.